Singapore-headquartered blockchain development company and cryptocurrency exchange KuCoin announced that its team is one step closer to taking the KuChain test network to the next level of development.
KuCoin is in the process of moving forward to the next stage for its own blockchain platform, which will transition from KuChain to the KuCoin Community Chain.
KuChain is Evolving
Since its launch in 2017, the team at KuCoin has come a long way to achieve its mission of driving mainstream adoption of crypto assets through secure and user-oriented digital asset transactions and exchange services.
Like many crypto exchanges, KuCoin is working on creating its own blockchain platform. KuCoin has called its blockchain platform KuChain, and it will be entering the next phase of development soon.
Many exchanges have been able to use their position in the marketplace to develop new blockchain technology, and add value to the blockchain ecosystem as a whole. It looks like KuCoin is taking this path forward.
For the moment, the devs and users who participated in the KuChain program are being offered rewards, which are detailed below.
⭐️The KuChain Test Network Kratos’ token KTSt will be exchanged for KCS at a rate of 200:1 as a reward for the community users who participate in the test.
👉Time: 03/04/2021, 3pm – 03/05/2021 3pm UTC
— KuChain (@KuChainOfficial) April 2, 2021
Rewards for the Network
KuChain’s initial operation involved the valuable contributions of all the nodes, partners, and community members in the beta testing. KuChain will continue to be developed and will take the form of the KuCoin Community Chain.
To leverage the exchange’s usability, KuCoin is sponsoring the KTSt-KCS Upgrade Exchange, and opening up rewards to exchange KTSt, KuChain Test Network Kratos’ token into KCS (KuCoin Shares), the KuCoin utility token for all KTSt holders at a rate of 200:1.
According to KuCoin,
The KTSt-KCS Upgrade Exchange is open to all…